MOODY’S
Analysts covering Yapı Kredi:
- George Chrysaphinis (Cyprus)
- Boyd Anderson (Cyprus)
|
Rating |
Outlook |
| Financial Strength Rating |
D+ (1) |
Stable |
| Short Term Foreign Currency Deposit |
NP |
Stable |
| Long Term Foreign Currency Deposit |
B1 |
Stable |
| Long Term Local Currency Deposit |
A3 (2) |
Stable |
| Short Term Local Currency Deposit |
Prime-2 |
Stable |
| |
|
|
| National Scale Rating |
Aaa.tr (2) |
|
STANDARD&POOR’S
Analysts covering Yapı Kredi:
- Magar Kouyoumdjian (London)
- Emmanuel Volland (Paris)
|
Rating |
Outlook |
| Long term FC Counterparty Rating |
BB- |
Negative |
| Short term Credit Rating on the International Scale |
B |
|
| Long term Credit Rating on the Turkish Scale |
trA+ |
|
| Short term Credit Rating on the Turkish Scale |
trA-1 |
|
FITCH RATINGS
Analysts covering Yapı Kredi:
- Ed Thompson (New York)
- Gulcin Orgun (İstanbul)
- Janine Dow (Paris)
|
Rating |
Outlook |
| Foreign Currency Issuer Default Rating |
|
|
| Long Term |
BB |
Stable |
| Short Term |
B |
|
| Local Currency Issuer Default Rating |
|
|
| Long Term |
BBB- (4) |
Stable |
| Short Term |
F3 (5) |
|
| National |
|
|
| Long Term |
AAA (tur) (5) |
Stable |
| Individual Rating |
C/D (6) |
|
| Support Rating |
3 |
|
| National Long Term |
AAA (tur) (3) |
Stable |
(1) Upgraded to “D+“ from “D-“ (two notches up) on 24 April 2007 as part of Moody’s application of the
new bank rating methodologies
(2) The highest rating on Moody’s National Rating Scale for Turkey
(3) Upgraded from “AA+” to “AAA” on 13 December 2007
(4) Upgraded from “BB+” to “BBB-“ on 14 December 2007
(5) Upgraded from “B” to “F3” on 14 December 2007
(6) Upgraded from “D” to “C/D” on 14 August 2008
Comments From the Rating Agencies;
| |
Comment |
Date |
| MOODY’S |
Moody's believes that YKB has the core competences and resources available to maintain and further develop current market positions. New owners are reinvigorating the bank's commercial strategy, focused on increasing revenue market share,supporting Franchise Value. We note the continuing recovery in the bank's profitability and capitalisation metrics, along with progress in the implementation of the new service model |
August 2007 |
| STANDARD&POOR’S |
Yapi Kredi has a segment-based service model and customer-focused strategy, which will enable it to strengthen its franchise and increase traditional banking activities as the Turkish economy continues to grow rapidly. The bank has centralized many key operational activities at its head office to enhance standardization, expertise, and operational control. |
June 2007 |
| FITCH RATINGS |
The Individual Rating indicates YKB’s strong credit card franchise, improved profitability and better risk management |
August 2007 |
|
